Category : Community Bank

Over 30 percent of financial marketers report that marketing budgets and a lack of manpower behind their strategies are their biggest issues. There is a myth within the industry that “effective marketing” is expensive marketing. As a credit union marketing consultant, I have seen many situations that prove there is a solution to the problem.

Your Credit Union Marketing Plans Should Include Improving Financial Literacy Of Members

“Financial Literacy” is a $2 term that basically just means keeping your members knowledgeable about the industry in which you operate. In the development of your credit union marketing plans, consideration should be given to showcase your commitment to your members and the community, and an effective way to do this is to develop avenues to help keep your members financially educated.

How to Improve Credit Union Email Marketing Strategies

Email marketing is a vital component in any credit union’s marketing strategy. As a regular channel of communication, it gives members and potential members a peek into your institution. According to a benchmark survey, 77 percent of consumers prefer to receive permission-based marketing through email than any other channel. To produce a successful email marketing campaign, your organization should establish the goals for the content, such as to engage current…

Three Reasons Your Members Choose Your Credit Union

Attracting the attention of potential new members can be one of the most challenging aspects of a credit union marketing department. However, knowing what your potential members are looking may be the key to success. Here at Extra Credit Union Marketing, we have determined that the three main attributes that today’s potential members look for is convenience, online services and customer service.

Why Social Media Marketing is the New Word-of-Mouth

In times past, you may have gone to your family and your friends to research which banking institution was right for you. The same goes today, but consumers are communicating with their friends and “trusted advisors” via social media. A recent LinkedIn study found that 63 percent of affluent consumers research financial services and products on social media before making decisions, and these decisions range from basic account services to…

Improving Credit Union Member Communication

Effective communication is the key to success in credit union membership relations. However many credit unions seem to forget that there are two parts to it. Organizations today often master the art of getting information to their members, but are extremely weak in the area of listening their member’s responses to the marketing messages they are sending. There are a few primary tools that your institution can use to effectively…

3 Ways to Engage Your Current Credit Union Members

Your members are the reason your credit union exists. They have already made a commitment to you and your credit union, making them your most valuable asset. Isn’t it about time you let them know? Your current members’ loyalty and participation are what keeps your institution going, growing and thriving. However, you must keep communication lines open and the conversation alive in order to continue to cultivate the relationship. If…

Using Emotional Storytelling to Market Your Credit Union

Emotion motivates and inspires people to make decisions and take action. As human beings, we tend to make decisions based on emotion and then justify that decision with reasoning we find or create after the fact. This is crucial information to consider when crafting messages designed to drive potential members to make a desired decision. For example, a young entrepreneur who feels that they are already taking a significant risk…

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Larry Meador

As Founder and Editor-in-Chief of Extra Credit, an online resource for credit union marketing insights, Larry’s reputation as the “Big Idea guy” often precedes him. With an unmatched drive to challenge the status quo with revolutionary new approaches to providing innovative, needle-moving work within the credit union industry, Larry’s out-of-the-box methodologies serve as a constant reminder to approach each day as an opportunity to build on our skills and create inspired work.